25. Galleries pricing art by the keystone rule and other fun ways to lose a business.

YES, we’ve returned to our corner booth at the ol’ art dealer bar and we have a new episode of the Art Dealer Show show for you.

Even though the break went much longer than I expected, it did not go to waste — during that time I gave the show many new tweaks. All with the goal of being able to get more of them out to you. If you’re a regular listener, I’m sure you’ll notice them along the way. And I’d very much like to hear what you think?

I’m about as excited as I am nervous about this new episode. I’ve decided to finally take on one of the sacred cows in the art gallery business: pricing art based on Keystone (double net) as a firm rule.

Ironically rigid rules of this kind, which are intended to secure fiscal safety, can literally cause the opposite result. And over the years I’ve watched galleries undermine their own success, and even place their business in direct danger, by hanging onto hard and fast rules of this kind. For many people in the art business even suggesting that this type of guiding rule should be thrown away is heresy. But that’s exactly the case I’m going to make.

…Annnnd there’s a lot of funny and interesting stories in there too — along with a time machine, a duck and an old joke about ham.